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Demand for energy is rapidly growing in recent years. Accumulation of
oil is an important aspect to eliminate hazards during oil extraction
processes. Oil accumulators are considered to be hydro pneumatic devices
that store non compressible fluid through an external source such as a
fluid, gas, spring, and piston under high pressure. Oil accumulators have
gained importance all over the world due to initiatives in reducing harmful
environmental pollution during oil & gas drilling activities. Oil
accumulators are employed for various purposes such as noise reduction,
leakage compensation, and pulsation dampening.

The oil accumulator market can be segmented based on its types,
applications, and region. Based on its types, oil accumulators can be
bifurcated as hydraulic or piston, bladder, and diaphragm accumulators.
Hydraulic accumulators are generally considered to be piston type
accumulators. A free moving piston separates the compressible gas
cushion from the hydraulic fluid. The bladder type
accumulator consists of an elastic barrier between the oil and gas.
The diaphragm type accumulator is designed into two sections
that are bolted or screwed together. A synthetic rubber diaphragm is
installed for bifurcation of oil & gas. Accumulators are used in drilling
rigs in offshore and onshore regions. It is utilized in blowout preventers
to restrict the sudden influx of oil & gas during drilling operations. It
is used in mud pumps in oil & gas exploration activities and also by
drilling tools and equipment manufacturers for developing instruments. Oil
accumulators are also used by environmental research institutes and
government organizations.

Opportunities in the oil accumulator market arise from rising demand for
oil & gas exploration and production activities. The attempts to minimize
environmental hazards due to exploration have positively impacted the
growth of the oil accumulator market. Restraints of the market include high
cost of production. However, efforts are being made to reduce costs and
develop advance technology oil accumulators. Thus, oil accumulator are an
important component when environmental factors are taken into
consideration.

In terms of geography, North America leads the oil accumulator market in
terms of demand. This can be ascribed to the increase in oil & gas
activities in offshore regions of the U.S. New discovery of shale oil in
the North Dakota region in North America has increased the demand for oil
accumulators. The oil accumulator market has been expanding in countries in
Asia Pacific such as India, China, and Japan due to the rise in maritime
security activities, growth in offshore oil & gas production activities,
and improvement in underwater communications. The oil accumulator market in
European countries such as the U.K., Germany, France, and Norway is likely
to expand due to increased oil & gas drilling activities in the North Sea
and improvement in maritime security. Countries in Latin America such as
Brazil and Mexico are anticipated to witness an increase in demand for
marine instrumentation activities due to rapid urbanization and rise in
offshore oil & gas activities in the Gulf of Mexico. Demand for marine
instrumentation in countries in Middle East & Africa is also likely to rise
due to the increase in number of offshore oil & gas exploration and
production activities.

The report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report have
been derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and information
for every facet of the market, including but not limited to: Regional
markets, technology, types, and applications.

The report has been compiled through extensive primary research (through
interviews, surveys, and observations of seasoned analysts) and secondary
research (which entails reputable paid sources, trade journals, and
industry body databases). The report also features a complete qualitative
and quantitative assessment by analyzing data gathered from industry
analysts and market participants across key points in the industry’s
value chain.

A separate analysis of prevailing trends in the parent market, macro-
and micro-economic indicators, and regulations and mandates is included
under the purview of the study. By doing so, the report projects the
attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the
parent market

Important changes in market dynamics

Market segmentation up to the second or third level

Historical, current, and projected size of the market from the
standpoint of both value and volume

Reporting and evaluation of recent industry developments

Market shares and strategies of key players

Emerging niche segments and regional markets

An objective assessment of the trajectory of the market

Recommendations to companies for strengthening their foothold in the
market

Note: Although care has been taken to maintain the
highest levels of accuracy in TMR’s reports, recent
market/vendor-specific changes may take time to reflect in the
analysis.

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